Haber, a leading industrial robotics company specializing in AI-driven automation solutions, has successfully raised $44 million in its Series C funding round. The round was led by investors Creaegis, BEENEXT, and Accel, comprising $38 million in equity and $6 million in debt.
The fresh capital will enable Haber to scale its operations internationally, with a particular focus on expanding its presence in the US. This move comes in response to the growing demand for AI-led industrial automation solutions across various sectors.
Founded by Raghavan, Arjunan PN, and Priya Venkat, Haber designs AI-powered robots that automate labor-intensive tasks such as sample collection, measurement, analysis, and intervention in factory settings. The company’s solutions are already helping industries reduce chemical consumption, along with minimizing energy and water usage across industries such as food and beverages, agriculture, and oil and gas.
To date, Haber has raised over $70 million in total, including a $20 million Series B round in November 2021, led by Ascent Capital and with participation from Accel, Elevation, and BEENEXT. Accel holds the largest external stake in the company at 18.1%, followed by Creaegis and Elevation.
While the financials for FY24 have yet to be disclosed, the company reported a revenue of Rs 82 crore and a loss of Rs 36.7 crore in FY23. Haber competes with other industry players such as Detect Technologies, Altizon, and Fero Labs, who are also leveraging AI and automation to improve industrial processes.
Haber counts several high-profile clients among its customer base, including ITC, Aditya Birla, and Tata Steel. Its automation solutions span various applications, including chemical dosing in sugar mills, distilleries, paper mills, breweries, and mining operations, making it a key player in the industrial robotics and automation space.
As the demand for automation continues to rise, Haber is poised to leverage its innovative technology and growing market presence to drive global expansion and further revolutionize industries worldwide.
